Molson Coors Brewing (NYSE:TAP) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Molson Coors Brewing (NYSE:TAP) from a strong sell rating to a sell rating in a report issued on Friday, ValuEngine reports.

Several other equities research analysts have also recently weighed in on the stock. Guggenheim dropped their price target on shares of Molson Coors Brewing from $63.00 to $52.00 and set a neutral rating for the company in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Molson Coors Brewing from a sell rating to a hold rating in a research report on Thursday, May 2nd. Credit Suisse Group assumed coverage on shares of Molson Coors Brewing in a research report on Monday, June 10th. They set an underperform rating and a $50.00 price target for the company. BMO Capital Markets increased their price target on shares of Molson Coors Brewing to $65.00 in a research report on Thursday, August 1st. Finally, Bryan, Garnier & Co reissued a sell rating and set a $51.00 price target on shares of Molson Coors Brewing in a research report on Thursday, August 1st. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Molson Coors Brewing presently has a consensus rating of Hold and an average target price of $62.91.

Shares of TAP opened at $52.50 on Friday. The stock has a market capitalization of $11.37 billion, a P/E ratio of 10.42, a PEG ratio of 2.61 and a beta of 0.79. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $54.18 and a two-hundred day simple moving average of $58.29. Molson Coors Brewing has a twelve month low of $49.92 and a twelve month high of $69.13.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.13). The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Molson Coors Brewing had a net margin of 6.85% and a return on equity of 7.33%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS. Sell-side analysts expect that Molson Coors Brewing will post 4.36 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This is a positive change from Molson Coors Brewing’s previous quarterly dividend of $0.41. This represents a $2.28 annualized dividend and a yield of 4.34%. Molson Coors Brewing’s dividend payout ratio is 32.54%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Molson Coors Brewing by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 2,550,361 shares of the company’s stock worth $142,989,000 after purchasing an additional 194,378 shares during the period. Retirement Systems of Alabama boosted its stake in Molson Coors Brewing by 1.2% in the 1st quarter. Retirement Systems of Alabama now owns 87,383 shares of the company’s stock worth $5,212,000 after purchasing an additional 1,067 shares during the period. Raymond James Trust N.A. boosted its stake in Molson Coors Brewing by 16.2% in the 1st quarter. Raymond James Trust N.A. now owns 9,364 shares of the company’s stock worth $559,000 after purchasing an additional 1,305 shares during the period. Nisa Investment Advisors LLC boosted its stake in Molson Coors Brewing by 18.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 44,428 shares of the company’s stock worth $2,650,000 after purchasing an additional 6,800 shares during the period. Finally, IFM Investors Pty Ltd boosted its stake in Molson Coors Brewing by 21.3% in the 1st quarter. IFM Investors Pty Ltd now owns 13,263 shares of the company’s stock worth $791,000 after purchasing an additional 2,332 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

Molson Coors Brewing Company Profile

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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Analyst Recommendations for Molson Coors Brewing (NYSE:TAP)

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